A STUDY ON JOB SATISFACTION OF EMPLOYEES IN

P.G.R POWER TECH, MUDAPPALLUR

PROJECT REPORT 2020 - 21

Submitted to Calicut University in partial fulfilment of the requirements for the

award of BACHELOR OF COMMERCE (COMPUTER APPLICATION)

Submitted By
ARJUN.G.R
REG NO: NOAQBCM010

Under the guidance of

Smt. ZEENATH P.M.A
Assistant Professor
Department Of Commerce

NETHAJI MEMORIAL ARTS AND SCIENCE COLLEGE

(Affiliated to Calicut University)
NETHAJI COLLEGE 1
 NETHAJI MEMORIAL ARTS AND SCIENCE COLLEGE
(Affiliated to Calicut University)
NEMMARA, PALAKKAD

DEPARTMENT O F COMMERCE

CERTIFICATE

This is to certify that the Project Report entitled “A STUDY ON JOB SATISFACTION OF
EMPLOYEES IN P.G.R POWER TECH, MUDAPPALLUR” is submitted to Calicut
University, in partial fulfilment of the requirements for the award of Bachelor of Commerce, is
a record of original work done by ARJUN.G.R (REG NO: NOAQBCM010)
during the period of his study 2018-2021 in the Department of Commerce, Nethaji Memorial Arts
And Science College, Nemmara, Palakkad.

……………………………. …………………………

Lecturer in charge Head of the department

Submitted to Calicut University Examination held on …………………………….at Nethaji

Memorial Arts And Science College, Nemmara, Palakkad.

NETHAJIPlace : Nemmara
COLLEGE 2
 CHAPTER 1
INTRODUCTION

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 INTRODUCTION

With the revolution in the retail sector in India and advent of mall culture, the
spending and saving habits of youth have changed over the years. An over
exposure to marketing communication activities of the companies, the youth has
turned to be more brand conscious and also spend a considerable amount of their
income on entertainment and gadgets. With the increase in spending power of
adults, even the young have become free-hand spenders and spendthrift in some
case.

This study address the question of why, where and how the youth spend? The
youth group of 17 to 25 years is that part of the society which is immortalized in
advertisement. The west depicts this youth as financially and emotionally free, but
in India the case not the same. Despite being financially dependent on the parents
till about an age 17-25 years, there is a radical difference observed in the spending
behavior of the youth of our country.

Youth savings accounts are one tool with the potential to encourage both youth
development and financial inclusion possibly even in a financially sustainable way
for individuals a financial cushion such as savings is clearly useful in mitigating
the impact of economic shocks. Research has shown that making formal sector
savings accounts available can boost this financial cushion among both youth and
adults. Research and experience to date suggest that savings account for low-
income youth may be high-leverage tool to achieve both youth development and
financial inclusion objectives.

NETHAJI COLLEGE 4
 In Kerala, saving and spending are two sides of a particular coin. Both savings
and spending are closely interrelated. Human wants are unlimited. When one want
is fulfilled then another want will arise, in early years people spend more on
unnecessary items than the necessary items.

The study has been undertaken to analyses the spending and saving habits of
college. Students especially in NETHAJI ARTSAND SCIENCE COLLEGE
NENMARA, the main reason behind the study is the youth spend more than their
income and saving habit is declining. This study shows the various spending and
saving avenues for youth and how they maintain their financial requirements with
limited income and high expenses.

1.1 STATEMENT OF THE PROBLEM

Youth is shifting towards enthusiasm, energy, education. Now a days part time job
opportunities for college students to earn while learn is one of the best source to
earn income. Most of the students are getting the money from parent to meet the
day to day expenses in college life. So in this context it is very essential to study
about spending behavior, how much, when and where they are spending, factors
influencing, mode of spending. Among youth is a must.

1.2 OBJECTIVES OF THE STUDY

1. To analysis the various modes of saving habits among college students.

2. To find out the spending pattern among college Students
3. To identify the saving and spending behavior status of Students of nethaji
4. 4. To study the benefits of saving money to the students.

NETHAJI COLLEGE 5
1.3 SCOPE OF THE STUDY

It is necessary to conduct a study on spending behavior and saving habits to

measure the advances of students about saving and spending. This study is
conducted to understand the various spending pattern of college students.

1.4 RESEARCH METHODOLOGY

In this project Research Design for the study is descriptive and analytical in
nature .The present study is conducted to evaluate the respondent at attitude
towards a study on the saving habits and spending behavior of college students.

RESERCH DESIGN

The study is descriptive in nature. It is the set of methods and procedures used in
collecting and analyzing measures of the various specified in the problem research.
Descriptive research is designed to describe something, such as demographical
characteristics of consumers who use the products.

SAMPLING METHOD

Random sampling method was adopted for selecting the sample from the universe.

POPULATION OF STUDY

The universe of the study comprises total students in Nethaji Memorial Arts and
Science College. ie; (902)

SAMPLE SIZE

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Size of sample consists of 50 students of various departments from Nethaji
Memorial Arts and science

1.5 SOURCE OF DATA COLLECTION

A research can collect required information from the two sources namely:-

a) Primary data

Primary data is directly collected from the respondents. It is the first hand
information. In this project primary data were collected from the respondents by
administering questionnaire .

b) Secondary data

Secondary data is data have been already collected by and readily available from
other sources. In published records, books, journals and web portals.

1.6 DURATION OF THE STUDY

The actual period of collection of the study is 21 days from 11-11-2020 to 11-12-
2020.

1.7 TOOLS USED FOR DATA ANALYSIS

Simple percentage analysis and weighted ranking methods were used for an
analyzing the data.

1.8 LIMITATIONS OF THE STUDY

 The study is limited to 50 students in Nethaji college so generalization

was not possible

NETHAJI COLLEGE 7
  An interpretation of the study is based on the assumption that the
respondents are given correct information.

CHAPTER SCHEME

Chapter 1: INTRODUCTION

Chapter 2: REVIEW OF LITERATURE

Chapter 3: THEORETICAL FRAMEWORK

Chapter 4: DATA ANALYSIS AND INTERPRETATION

Chapter 5: FINDINGS,SUGGESTION AND CONCLUSION

NETHAJI COLLEGE 8
 CHAPTER 2

REVIEW OF LITERATURE

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REVIEW OF LITERATURE

A literature review is description of the literature relevant to a particular topic. A

review of earlier studies relevant to the present investigation carried out in the
same area as well as elsewhere is included here most of the available literature on
saving habits and spending behavior of college students .

Kantingsechabathobejane, Olawalefatoki (2017) Budgeting and spending habits

of university students in South Africa, IFE center for psychological studies, ISSN:
1596-9231, Volume 15, No 3, 2017 .In his study “Budgeting and spending habits of
university students in South Africa” examined if there is a significant gender
difference in the budgeting and spending habits of university students. The
findings of the study show that the majority of university students do not have a
written budget. In addition. the majority of university students spend on groceries
and fast food. Female students are more likely than male students to have a
budget. Recommendations to improve the budgeting and spending habits of
university students are suggested.

FOLORUNSHO M AJIDE 2015 : The spending pattern and saving habits

analysis showed that there were significant differences in the spending pattern
among male and female youths, and the major source of their income was pocket
money got from relatives and family. It was also reported that significant positive

NETHAJI COLLEGE 10
relationships existed between pocket money and spending pattern. It was
concluded that the youth spend most of their income towards fast food, movies,
transportation.

Abhijeetbirari, Umeshpatil (2014), spending and saving habits of youth in the city
of Aurangabad, The standard International Journals, ISSN: 2321-242X, volume 2,
No 3, May 2014. in his study “spending and saving habits of youth in the city of
aurangabad” the spending and saving of youths in India has changed drastically in
past few years as a result of westernization and higher spending power. The
studies have shown that youth spends more money on shopping and especially
on branded items. It was also noted that both the male and female youths have
different spending patterns with a slight similarity. the youth should cultivate
habit of rational spending and should save and invest more in fixed deposit,
mutual funds, gold etc.. It is huge opportunity for hotel, mobile company, retail
shop, fast food restaurants which should tap the youth spending for their benefit

According to the youth survey 2013 : Conducted by college saving foundation

USA ,found strong desire in college saving habits and a willingness to make
choices and priorities their needs to attain higher education. Around 29 percentage
students are looking online course. More than 78% of the students feel that their
cost and savings affect their future plans and higher education. This paper intends
to find out the saving habits of the students attending college in India and the
attitude of students towards saving. This research will throw light on framing
policies towards promoting better saving habits for the students which will help in
reducing the financial burden of higher education on the parents and economy. The
literature in context of Indian students saving habits is very less.

NETHAJI COLLEGE 11
Jobst, Vicki J 2009 :The data reports improvements in the money management
skills of the students. After taking the course, students were able to pay their credit
card bills on time , priorities their spending and avoid overdraft. During the course,
the participants developed the habits of keeping track of their savings and personal
spending, learned to reduce the purchase of necessary items.

Peng et al, 2007 :The study was conducted through an online survey measuring
past and current financial experiences, demographic characteristics, income and
savings. The result suggest that personal financial course improves financial
literacy. The savings of the college before and after the course were found higher
than savings of school. The study highlights the importance of finance courses to
develop saving habits at the college level.

Fox et al 2005 : This suggests that undergraduates start college life without
adequate financial knowledge, but with easy access to credit cards.
Keycorp (2005): conducted a survey on “Key Surveys Americans on Saving Habits” concluded

that55% of the people surveyed said that they were decent savers. The survey also found that 49%

respondents said that cable T.V and satellite television were essential for their life style, 46%need all cell

phones,44% high speed internet access, 32% spent on entertainment, movies and dinning.

R.Kamath (2006): “Yuppies on a Shopping Spree” and he concluded that the age group of 17-25
year spent more on apparel and was becoming more brand consciousness because of the easy

availability of information on just a click away.

Adam et al, 2003 :Surveyed college students in Hungry to find out the financial
knowledge of the students and how they manage their family wealth. It was found
that students lack of financial knowledge and are not familiar with the various
incentive plans through which they can make savings. They are aware the financial
security is very important but they do not know how to make savings. Thus, the
research throws light on the importance of financial literacy among adults.

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Farnham 1999 :Collected data over 250 British children and adolescents on their
source of income, amount saved by them, their purpose of saving, young people
are found to be economically active citizens. Most of the young people were found
to borrow send and save money. The data showed that males receive more pocket
money than females. Gender difference indicate that females are economically less
active and more economically conservative as compared to males

Leach and Turner, 1999 :Conducted survey to examine the influence of credit
and money on the number of students held by the college Students .The results
show that students with four or more credit cards scored lower on the retention
money attitude and higher on the affective credit attitude students with more credit
are less likely to borrow from others.

Chen and Volpe 1998 :Found that students with higher financial knowledge were
both more likely to keep financial records and more likely to select the correct
choice when given a hypothetical scenario regarding a financial decision
compared to students with less financial knowledge. Although the current literature
finds a positive association.

Pritchard Myers &Cassidy, 1989:

Studied the factors associated with the spending and saving habits of the students
were savers belonged to those families who save and plan the use of money.
Necessity spenders were those whose families have financial difficulties and have
fewer resources. The study highlights the impact of family background on the
saving and spending pattern of the students.

Danes and Hira 1987 :Indicated that college students only knew general not
specific facts on money management topics that explained their low levels of
knowledge in insurance, credit cards, and overall financial management areas. It is

NETHAJI COLLEGE 13
wondrous how parents transferred their money management Knowledge and
attitudes about money to children within families.

CHAPTER 3

THEORETICAL FRAMEWORK

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Finance is the life blood of trade, commerce and industry .Now a days, banking
sector acts as the backbone of modern business. Development of any country
mainly depends upon the banking system. The term bank is either derived from
French word Banquo both mean a bench or money exchange table.

In olden days, European money lenders or money changers used to display, show
coins of different countries in big heaps (quantity) on benches or tables for the
purpose of lending or exchanging. The necessity of saving money was felt by
people even in oldest days. They used to hoard money in their homes with their
homes. With this practice, savings were available for use whenever needed, but it
also involved the risk Of loss by theft, robbery and other accidents. Thus , people
were in need of a place where money could be saved safety and would be available
when required. Banks are such places where people can deposit their savings with
the assurance that they will be able to withdraw money from the deposits
whenever required. People who wish to borrow money for business and other
purposes can also get loans from the banks at responsible rate of interest.

A bank is a financial institution which deals with money and credit. It accepts
deposits and lends money to those who are in need of it. It helps to transfer money
from one place to another. Horace white opinion “A bank is a manufacturer of
credit and a machine for facilitating exchanges”.

NETHAJI COLLEGE 15
 CHARACTERISTICS OF A BANK

 Dealing in money: Bank is a financial institution which deals with other

people’s money.
 Individual or firm or company :A bank may be a person ,or a company
which is doing the business of banking.
 Acceptance of deposit : A bank accepts money from the people in the form
of deposits which are usually repayable on demand or after the expiry of a
fixed Period. It gives safety to the deposits of its customers.
 Giving advances: A bank lends out money in the form of loans to those who
require it for different purposes.
 Payment and withdrawal: A bank provides easy payment and withdrawal
facility to its customers in the form of Cheques and drafts. It also brings
bank money in circulation. This money is in the form of cheques, drafts.

CUSTOMER

The term customer is not defined by statute. Generally a person who has an
account in a bank is constructed as a customer. To get the meaning of the term, we
have to depend on the views expressed by well known authors and verdicts in
various judicial decisions.

In the opinion of Dr H L Hart ,” a customer is one who has an account with a

banker or for whom a banker habitually undertakes to act as such.”

NETHAJI COLLEGE 16
SAVINGS

Saving is income not spent, or deferred consumption. Methods of saving

include putting money aside in, for example, a deposit account, a pension
account, an investment fund, or as cash. Saving also involves reducing
expenditures, such as recurring costs.

SAVING AVENUES

● Banks
The most important function of bank is to accept deposits from public. A

bank is not only about saving money, it’s also about managing money.

Opening an account is a smart move – it means that helps to acess a service

and control money. For a student it is very important to have a savings

bank account, it helps them to have

their small savings account safe and secured.

● Post savings scheme

Post office saving scheme provides a safe or risk free and attractive savings

for small investors. Since post offices are spread all over the country, post

office savings are ideal saving avenues, particularly to small investors with

limited income.

● Chit funds

A Chit fund is a kind of savings scheme practiced in India. A Chit fund

company is a company that manages, conducts, or supervises a chit

scheme. It is regulated by provisions of Chit Fund Act, 1982. According to

NETHAJI COLLEGE 17
 Sec 2(b) of the Chit Fund Act, 1982, “Chit means a transaction whether

called chit, chit fund, chitty, committee, kuris or by any another name by or

under which a person enters into an agreement with a specified of persons

that every one of them shall subscribe a certain sum of money (or a certain

quantity of grain instead) by way of periodical instalments over a definite

period and that each such subscriber shall, in his turn, as determined by lot

or by auction or by tender or in such other manner as may be specified in

the

chit agreement, be entitled to the price amount.”

TYPES OF DEPOSIT

1.BankDeposit:The most important function of bank is to accept deposit

from the public. Through this function banks pools together the scattered
savings of the society for being used for productive purposes. The various
types of deposits accepted by banks form a good avenue of investment to
customers. The different types of deposits by a commercial bank are:

NETHAJI COLLEGE 18
 2.FixedDeposit or Time Deposit: In the case of fixed deposit, money is
deposited for a fixe period of time and can be withdrawn only after the
expiry of the period. The rate of interest on this type of deposit is higher as
compared to other type of deposits. At the time of making FD, the bank
issues a receipt to the depositor known as fixed deposit receipt. It contains
the amount deposited, the name of the depositor, rate of interest, and
maturity date. It has to be surrounded to the bank on the due date for getting
back the deposit amount together with interest.

KEY FEATURES

 Some fixed amount is deposited a monthly for a pre-fixed them.

 Earn higher interest than savings bank account.
 Helps in the saving of fixed amount every month.

3. Post office savings scheme:Post office savings schemes provides a safe or risk
free and attractive savings for small investors since post offices are spread all over
the country. Post office savings are ideal saving avenues, particularly to small
investors with limited income. There are about 155000 post offices across the
country from which various the products offered by the postal department suiting
the requirements of the customers can be purchased. The following are the major
saving schemes offered by the Indian postal department.

 Saving bank (SB) account:The savings bank account facility offered by

Indian postal department is on similar lines with that of the largest banking
system in the country, serving the investment needs of both urban and rural
people. The post office SB enables the account holder to make regular
deposit and withdrawals from the account. Cheque facility is also available

NETHAJI COLLEGE 19
 in this account. Tax benefit is another important attraction. Because interest
on post office saving bank is absolutely tax free.
 Recurring Deposit (RD) account :This is a five year monthly investment
opinion which offers a higher annual interest , deposits of small
denomination are possible without any maximum limit. At the end of five
years there is an option to extend the account period for five year to years
basis . Insurance cover facility is also available with some conditions.
 Time Deposit (TD) : This is a fixed deposit option for period ranging from
one to five Years with facility to draw yearly interest offered at compounded
rates. Interest is payable annually but calculated quarterly . The Interest rate
ranges from 8.2 percent from one years. There is a Facility for automatic
credit of interest to SB account. The minimum amount of deposit is 200 and
multiples there of. There is no Maximum limit investment in TD is eligible
for tax benefit under Section 80C . Only individual can open TD account.
Group accountsand institutional accounts are not permissible.
 Monthly income scheme (MIS) :The MIS is a safe and sure way to get
regular monthly income. This scheme offers an opportunity for fixed
investment for five years with monthly interest to SB account available. It is
especially suitable for retired employees, senior citizens, etc ; The rate of
interest is 8.50 percent. The minimum amount of deposit is 1500 in both
single and joint account.
 CHIT funds :A chit fund is a kind if savings scheme participated in India. A
chit fund company is a company that manages, conducts, or supervises a
chit scheme. It is regulated by Provision Chit Fund Act 1982.

According to sec 2 (b) of the Chit Fund Act , 1982 chit means a transaction
whether called chit, chit fund , chitty, committee, kuris or by any another name by

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or under which a person enters into an agreement with a specified of persons that
every one of them shall subscribe a certain sum of money by way of periodical
investment over a definite period and that each such Subscribe shall, in his turn, as
determined by or by action or may be specified in the chit agreement, be entitled
to the price amount.

WHY PEOPLEJOIN IN CHITFUNDS

1. Easy to join as there is no formalities

2. High promised return
3. Option of small deposit
4. High liquidity
5. Door to door collection by the agent

KINDS OF CHIT FUND IN INDIA

There ate three kinds of chit funds in India.

1.Chit funds run by state Governments like Kerala State Financial Entertainment
(KSFE) and Mysore sales international Ltd and PSU runs chit funds.

2.There are registered funds which are run by big business houses and are
registered.

3.Unregistered chit funds, which are run on the basis of friendship and close
proximity of the members.

INSURANCE

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 Insurance is generally referred as life assurance. The subject matter of life
insurance is the life of human being. The life of human being. The life insurance is
described as contingent contracts because the loss of life cannot be compensated
and only a specified sum can only be paid if the insured dies. The insurance is not
only a protection of life individual but also an investment.

RECENT TRENDS FOR WITHDRAWAL OF MONEY

 E- Banking: E-banking a customer can do a number of transactions by

sitting in his office or home or college or from anywhere at any time. There
is no time restriction. The brick and motor structure of the traditional
banking is converted into a click and portal model. So the concept of virtual
banking came into existence. Core banking is introduced . Now the banks
are offering a number of services through E- Banking , ATM, Tele banking
, Mobile banking, internet banking , Mobile banking, internet banking ,
credit cards etc. The customers can go to shops for purchasing goods without
keeping cash in his pocket. He can use credit cards and E- Cheques for
payment.
 ATM:Automated teller machine is an electronic banking outlet. Customers
can access cash simply by inserting a plastic ATM card into the machine and
entering their Personal Identification Number (PAN). ATM card you can
withdraw money , make deposits, find out the balance etc. All hours of the
day or night. Credit card:Credit card has become a part of the life of the
people .It is a financial instrument which can be used more than once to
borrow money or buy products and services on credit.
 Debit card:

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Debit cards are issued by banks to their customers who have maintained an account
in the bank with sufficient credit balance. Each time when the customer makes a
purchase, an equal amount of the purchase is debited in his account.

ADVANTAGES OF SAVING HABITS

1. Start with a little :In most cases, you don’t need any money to open a
savings account. There’s often no minimum balance requirement and you
can make deposits of any size as often as you’d like. Setup an automatic
savings plan. This feature automatically transfers a small portion of your
paycheck into your savings account when you get paid so that you can “pay
yourself first” and develop a habit of saving.
2. Joint accounts: You can open savings accounts with your partner so that
you can save together.
3. Easy access to your money: Many savings accounts offer easy access to
your account with multiple bank branches, ATM cards, mobile apps and
online banking platforms.
4. Earn interest on your savings: Financial institutions pay you interest on
your savings account balance, and many accounts offer compound interest,
meaning your money can earn its own money. You can also keep switching
savings accounts to take advantage of attractive introductory interest rates
for new accounts, though most institutions will only allow one introductory
offer per customer.
5. Savings accounts are free to open: Most savings accounts cost nothing to
open and have no monthly fees.

NETHAJI COLLEGE 23
 6. No lock-in period: You’re not locked in for any period of time and you can
switch savings accounts as often as you like.
7. Protect your checking account from overdraft fees: If your savings
account and checking account are with the same bank, you may be able to
link the two. In the event that there isn’t enough money in your checking
account to complete a transaction, funds will be transferred from your
savings to avoid overdraft fees.
8. Your money is safe: Banks are known for their well-protected vaults, and if
your financial institution goes bust, the FDIC will guarantee your savings
account balance up to the value of $250,000.

DISADVANTAGES OF SAVING HABITS

1. Rates can change: One key disadvantage is that savings account interest
rates are variable, meaning that financial institutions are free to set and
change interest rates as they wish. High-interest savings account rates will
stay largely in line with the movements of the federal rate.
2. Temptation to spend: Savings accounts are on-call products, meaning you
can access your money whenever you want. While it’s nice to have financial
freedom, a time deposit may be a smarter option if you’re tempted to dip
into your savings.
3. Six-withdrawal limit: Due to Regulation D, savings accounts are limited to
six outgoing withdrawals per month. While you’re technically allowed to
access your money whenever you want, every transaction above this limit
will be accompanied by a penalty fee.
4. Inflation: If your savings account doesn’t pay a competitive interest rate,
inflation could be eating up the value of your earned interest, leaving you

NETHAJI COLLEGE 24
 with an account balance that’s worth less a year from now than it is in
today’s dollars

STEPS FOR SAVING

Armed with the education and tools to create realistic goals for your money, it is
time to find and dedicate the money to reach your goals.

1. Make a Budget: The first thing you need to do is have a budget and stick to
it. This includes being realistic about your household financial situation and
setting honest and attainable numbers corresponding to your spending so
that you can save. Saying you will save and thinking about savings is not
enough. You will have to be intentional about what you do with your
money.
2. Understand the Concept of Cash Flow: You need to understand cash flow.
What it is, how it works and what your personal household outgo looks like.
Review your income and expenses and see where your spending habits lay.
Be intentional about making changes to things you can, to have money
available to save.
3. Work With Your Partner: If you are married or live with someone,
communication and teamwork concerning your household finances are
crucial. To save, you both need to be on board with your desires, plans, and
resources. The best-laid plans without everyone on board will meet turmoil.
4. Distinguish Between “Want” and “Need”: Understand the differences
between needs and wants and identify yours. Be able to say no when
something doesn’t align with your financial goals, today and in the future.
5. Make It Automatic: Automate savings so the money stays. If you wait until
the end of the month to save, the likelihood will be that there is not much

NETHAJI COLLEGE 25
 left to save. Make it automatic and have money deposited straight out of
your paycheck, or have a portion go into a savings account whenever you
make a deposit. If you have a few savings objectives, you can track the
money you put into each account and put it through one account or use a few
different savings accounts open for various goals. When you see your
savings’ growth, you are more likely to keep it there.
6. Do a Review: Sometimes we do not even realize what we are spending each
month until we examine it. Review everything you pay for. What are you
buying that you might not need? If you do need it, is there a way to get it for
less?
7. Look for Places to Cut: What expenses or items can you cut to enhance
your savings goals? There are five key areas to review for opportunities,
including energy and utilities, food and groceries, banking and credit card
fees, taxes, and auto expenses (gas and insurance).
8. Think of the Children: Also, take into consideration your children. It is
incredibly important to teach them about savings and spending. And to set
an example: They mirror your behaviors and will take your lead on the role
of money in their lives. Some essential lessons include waiting to purchase
something you want, saving, identifying specific ways for children to save
such as using jars or envelopes, making wise choices and understanding that
when money is spent, it can not be spent somewhere else.
9. Start Now: Remember whatever your goal is, start now. Something will
always come up and compete for your resources. Saving for the future
should stay in the forefront of your mind (and your finances!) regardless of
whatever else comes around.

NETHAJI COLLEGE 26
 10.Enjoy Life: Yes, we’ve been preaching the virtues of discipline, belt-
tightening, and resisting instant gratification. But everyone is only human.
Recognizing the importance of savings doesn’t mean you can’t now and again
spend on things for fun, relaxation, celebrations, or just for the hell of it. But be
sure to build the occasional splurge into your budget.

CHAPTER 4

DATA ANALYSIS AND INTERPRETATION

NETHAJI COLLEGE 27
Data analysis and interpretation

Data analysis and interpretation is the process of assigning meaning to the

collected information and determining the conclusions, significance, and
implications of the findings. The analysis of NUMERICAL (QUANTITATIVE)
DATA is represented in mathematical term.

TOOLS USED FOR DATA ANALYSIS

Simple percentage analysis and weighted ranking methods were used for an
analyzing the data.

NETHAJI COLLEGE 28
 TABLE NO 4.1

OPINION REGARDS SAVING

Opinion No.of Percentage

respondents
Yes 50 100%
No 0 0%
Total 50% 100%
Source: questionnaire

GRAPH NO 4.1

NETHAJI COLLEGE 29
 SAVINGS

Yes
100%

INTERPRETATION:

The table shows that 100% of respondents are saving money.

TABLE NO 4.2

TABLE SHOWING MONTHLY SAVINGS OF STUDENTS

Monthly savings No:of respondents percentage

Below 500 14 28%
Source:
500-1000 12 24%
questionnaire
1000-2000 10 20%
Above 2000 14 28% GRAPH 4.2
total 50 100%

INTERPRETATION:

NETHAJI COLLEGE 30
The above table shows that 28% of respondents belong to the savings group of
below 500 and 24%belong to the group of 500-1000, 20% in the group of 1000-
2000 and the remaining 28% belong to above 2000.

TABLE NO 4.3

TABLE SHOWING WAYS OF SAVINGS

Ways of saving No:of percentage

respondents
Bank deposit 22 44%
Post office savings 18 36%
Chit funds 0 0%
Others 10 20%
Total 50 100%
Source: questionnaire

GRAPH 4.3

way of savings

44%
36%
20%

0%
Bank deposit Post office savings Chit funds Others

INTERPRETATION:

NETHAJI COLLEGE 31
The above table shows that 44% of respondents prefer to save money in bank
deposit and 36% of respondents prefer to save money in post office, 20% of
respondents prefer to other source.

TABLE NO 4.4

TABLE SHOWING PURPOSE OF SAVINGS

Purpose No:of respondents percentage

As a habit 4 8%
For higher studies 9 18%
For future shopping 37 74%
Others 0 0%
Total 50 100%
Source: questionnaire

GRAPH 4.4

PURPOSE OF SAVINGS
As a
habit
8% For
higher
studies
18%
For fu-
ture
shopping
74%

INTERPRETATION:74% of the respondents says that they save money for the
purpose of future shopping 18%says that their savings are used for higher studies
and 8% of them responds that they save money as their habits.
NETHAJI COLLEGE 32
 TABLE NO 4.5

TABLE SHOWING PERIOD OF SAVING MONEY

Saving period No: of percentage

respondents
Less than 2 10 20%
months
2-6 months 21 42%
6 months-1 year 19 38%
More than 1 year 0 0%
Total 50 100%
Source: questionnaire

GRAPH 4.5

PERIOD OF SAVING MONEY

42%
38%

20%

0%
Less than 2 months 2-6 months 6 months-1 year more than 1 year

INTERPRETATION:

NETHAJI COLLEGE 33
This study shows that 20% of the respondents save money less than 2
months ,42%comes under the category of 2-6 months ,38%belongs to 6 months to
1 year.

TABLE NO 4.6

TABLE SHOWING REASON BEHIND OPENING BANK ACCOUNT

Attributes No: of respondents percentage

Parents advised me 22 44%

Advice from school or college 8 16%

To keep my money safe 16 32%

To earn interest on money 4 8%

Total 50 100%
Source: questionnaire

GRAPH 4.6

OPENING BANK ACCOUNT

Series1

44%
32%
16%
8%

Parents adviced Advice from To keep money To earn interest

me school or college save on money

INTERPRETATION:

NETHAJI COLLEGE 34
this table shows that 44%of respondents open bank account on the basis parents
advice 16%.opened on account on the basis of advice from school or college 32 %
open account for keeping money safe and warning to save an another 8% opened
account for earnings interest.

TABLE NO 4.7

TABLE SHOWING WITHDRAWAL OF CASH FROM BANK

Withdrawal No: of percentage

respondents
Once in a week 8 16%
Once or twice a 14 28%
month
Less than once a 28 56%
month
Total 50 100%
Source: questionnaire

GRAPH 4.7

WITHDRAWAL OF CASH
Once a week
16%

Less than
once a Once or
month twice a
56% month
28%

NETHAJI COLLEGE 35
INTERPRETATION:

The study shows that 56% of the respondents are withdraw cash in less than once
a month, 28% of respondents withdraw cash in once or twice in a month, 16% of
respondents are once a week.

TABLE NO 4.8

TABLE SHOWING SOURCE OF INCOME

Sources No:of percentage

respondents
Pocket money 20 40%
Scholarship or 13 26%
grant
Job (part time or 17 34%
weekend)
Total 50 100%
Source: questionnaire

GRAPH 4.8

SOURCE OF INCOME
40%
34%
26%

Pocket money Scholarship or grant Job(part time or

weekend

INTERPRETATION:
NETHAJI COLLEGE 36
The above table shows that 40% of respondents have get income from pocket
money and 34% of respondents get income from part time or weekend job , 26% of
respondents will scholarship or grant.

TABLE NO 4.9

TABLE SHOWING SPENDING OF MONEY PER MONTH

Spending money No: of percentage

respondents
Less than 500 25 50%
500-1000 17 34%
1000-1500 5 10%
More than 1500 3 6%
Total 50 100%
Source: questionnaire

GRAPH 4.9

SPENDING MONEY PER MONTH

6%
10%

50%
34%

Less than 500 500-1000 1000-1500

More than 1500

INTERPRETATION:

NETHAJI COLLEGE 37
The table shows that 50% of respondents are spending less than 500 per month and
34% of respondents are spending 500-1000 per month, 10% of respondents are
spending 1000-1500 per month, 6% of respondents are more than 1500 per month.

TABLE NO 4.10

TABLE SHOWING SPENDING AND SAVING STATUS

Spending of No: of percentage

savings respondents
Source:
Spending greater 4 8%
questionnaire
than savings
Spending equal to 8 16% GRAPH 4.10
savings
Spending less than 38 76%
savings
Total 50 100%

SPENDING AND SAVING STATUS

76%

8% 16%

INTERPRETATION:

NETHAJI COLLEGE 38
The above table shows that 76% of respondents are spending less than savings and
16% of respondents are spending equal to savings, 8% of respondents are spending
greater than savings.

TABLE NO 44.11

TABLE SHOWING SHOPPING PREFERENCE

Shopping No: of percentage

preference respondents
Mall 9 18%
Online 12 24%
Retail store 29 58%
Total 50 100%
Source: questionnaire

GRAPH 4.11

SHOPPING PREFERENCE

58%

24%
18%

Mall Online Retail store

INTERPRETATION:

NETHAJI COLLEGE 39
The table shows that 58% of respondents are prefer to shop in retail store and 24%
of respondents are prefer to shop at online, 18% of respondents are prefer to mall.

TABLE NO 4.12

TABLE SHOWING FREQUENCY OF MONTHLY SHOPPING

Period of shopping No: of percentage

respondents
1 12 24%
2 18 36%
3 13 26%
More than 3 7 14%
Total 50 100%
Source: questionnaire

GRAPH 4.12

PERIOD OF SHOPPING
More than 3
14%

1
24%

3
26%

2
36%

INTERPRETATION:

NETHAJI COLLEGE 40
 The study shows that 36% of respondents are shop 2 times in a month, 26%
of respondents are 3 times in a month to shop, 24% of respondents are once in a
month,14% of respondents are more than 3 times in a month to shop.

TABLE NO 4.13

OPINION REGARDS USE OF SAVING MONEY FOR ONLINE

RECHARGE

Opinion No: of percentage

respondents
Yes 43 86%
No 7 14%
Total 50 100%
Source: questionnaire

GRAPH 4.13

USE OF ONLINE RECHARGE

Series1

86%

14%

Yes No

INTERPRETATION:

NETHAJI COLLEGE 41
 The table shows that 86% of respondents are used their savings for online
mobile recharge and 14% of respondents are not using for online mobile recharge.

TABLE NO 4.14

TABLE SHOWING MONEY SPEND FOR MOBILE RECHARGE

Amount No: of respondents percentage

Less than 100 8 16%
100-200 12 24%
200-400 16 32%
More than 400 14 28%
Total 50 100%
Source: questionnaire

GRAPH 4.14

MONEY SPEND FOR MOBILE

RECHARGE

32%
28%
24%
16%

Less than 100 100-200 200-400 More than 400

NETHAJI COLLEGE 42
INTERPRETATION:

The table shows that 32% of respondents are spend 200-400 for mobile
recharge, 28% of respondents are spend more than 400 for mobile recharge 24% of
respondents are spend 100-200 and 16% of respondents are spend less than 100 for
mobile recharge.

TABLE NO 4.15

OPINION REGARDS WHETHER SAVING MONEY USED FOR

EDUCATIONL PURPOSE

Opinion No: of percentage

respondents
Yes 25 50%
No 25 50%
Total 50 100%
Source: questionnaire

GRAPH 4.15

NETHAJI COLLEGE 43
 USE FOR EDUCATIONAL PURPOSE

No Yes
50% 50%

INTERPRETATION:

The table shows that 50% of respondents are used savings for educational
purpose and50% of respondents are not used for educational purpose.

TABLE NO 4.16

OPINION REGARDS SAVED MONEY SPENT FOR SPECIAL EVENTS

Opinion No: of percentage

respondents
Yes 42 84%
No 8 16%
Total 50 100%
Source: questionnaire

GRAPH 4.16

NETHAJI COLLEGE 44
 SPEND SAVINGS IN SPECIAL EVENTS
50% 50%

Yes No

INTERPRETATION:

The table shows that 84% of respondents are spend savings in special events
and 16% of respondents are did not spend savings in special events.

TABLE NO 4.17

OPINION REGARDS SAVED MONEY SPENT FOR LUXURIOUS

PURPOSE

Opinion No: of percentage

respondents
Yes 25 50%
No 25 50%
Total 50 100%
Source: questionnaire

GRAPH 4.17
NETHAJI COLLEGE 45
 SPEND SAVINGS FOR LUXURIOUS
PURPOSE

50% 50%

Yes No

INTERPRETATION:

The table shows that 50% of respondents are spend savings for luxurious
purpose and 50% of respondents are not spend savings for luxurious purpose.

TABLE NO 4.18

OPINION REGARDS SAVED MONEY SHARE TO PARENTS

Opinion No: of percentage

respondents
Yes 25 50%
No 25 50%
Total 50 100%
Source: questionnaire

GRAPH 4.18

NETHAJI COLLEGE 46
 SHARE SAVINGS ON PARENTS

No Yes
50% 50%

INTERPRETATION:

The table shows that 50% of respondents are share savings on parents and
50% of respondents are not share savings on parents.

TABLE NO 4.19

OPINION REGARDS CONTRBUTES TO CHARITY

Opinion No: of percentage

respondents
Yes 25 50%
No 25 50%
Total 50 100%
Source: questionnaire

GRAPH 4.19

NETHAJI COLLEGE 47
 CHARITY

50% 50%

Yes No

INTERPRETATION:

The table shows that 50% of respondents are donate a portion of savings for
charitable purpose and 50% of respondents are not donate.

NETHAJI COLLEGE 48
 CHAPTERD 5
FINDINGS, SUGGESTIONS AND CONCLUSIONS

FINDINGS

Survey has been conducted among the 50 students in NETHAJI ART AND
SCIENCE COLLEGE NENMARA. Following are the findings of the study.

 100% of respondents have savings.

 The respondents are equal to the saving group of below 500 and above 2000.
 The majority respondents are deposit their savings in bank.
 Majority of the respondents are uses their savings for the purpose of future
shopping.
 The majority respondents are open a bank account because of parents advice.
NETHAJI COLLEGE 49
  40% of respondents have the source of income from their pocket money.
 Majority students use less than 500 Rs per month for their expenses.
 Majority respondents are spending less than savings.
 Most of respondents are prefer to shop in retail store.
 Majority respondents are shopping 2 times per month.
 86% of respondents are using their savings for online recharge.
 Most of respondents are spend Rs200-400 for mobile recharge.
 50% of students have use savings for educational purpose.
 50% of respondents are spend savings for special events, luxurious purpose
and donate charity.

SUGGESTIONS

The first and foremost thing to do create awareness about spending and saving
behavior among college students.

 Students should cultivate their habit of savings.

 Students should invest their savings in to productive channels like bank, post
office etc.

NETHAJI COLLEGE 50
  Students should consult their parents or guardian for budgeting before
spending.
 Students are requested to spend more money for studies.

 The use of technologically enabled services are not used by the students on
a large scale. So it is better to offer a savings account with these facilities.
 Students are interested in having a savings bank account, so it will be a good
decision if banks start a bank account opening campaign as a part of financial

literacy.

 Provide proper guidance and information can make them aware about
technologically advanced services like net banking and mobile banking
facilities
 The youth should think rationally before spending the money and should be
more aware about various savings and investment avenues available in the

market.

NETHAJI COLLEGE 51
 CONCLUSION

The study conducted on “The saving and spending habits of college students” was
undertaken to know the spending and saving habits of college students. It was
found that most of our respondents saved less than they spend but their spending
avenues are different. Most of the students have savings and they know about
the importance of savings. Students commonly prefer saving bank account as
their saving avenues. Students save for their emergency situation. From the study
on spending pattern of students, they are spending higher amount in
transportation and studies.

NETHAJI COLLEGE 52
 BIBLIOGRAPHY

NETHAJI COLLEGE 53
 BIBLIOGRAPHY

BOOKS REFERRED

1. Benjamin Graham, “The Intelligent Investor” , Harper, 1949.

2. Dr. M. Narayanankutty, “Banking & Insurance” , Excel Publishers, 2016.

ARTICLES

1. Mary Hill, “Spending and Saving”, Children’s Press, Danbury CT USA, 2005.

2. Abhijeet Birari and Umesh Patil, “Spending & Saving Habits of Youth in
the City of Aurangabad”, The Standard Internationals Journals, Coimbatore, 2014.

3. Bitsy Kemper, “Budgeting, Spending and Saving”, Lerner Publications, Minnesota

Washington, 2015.

WEBSITES REFERRED

1. www.teenresarch.com
2. www.indianamba.com
3. www.thenindubusinessline.in
4. www.mobilebehaviour.com

5. www.wikipedia.org

6. www.shodhganga.inflibnet.ac.in

7. www.scribd.com

8. http://www.researchgate.net>puplication

9. www.indusedu.org>

NETHAJI COLLEGE 54
NETHAJI COLLEGE 55
 APPENDIX

NETHAJI COLLEGE 56
 QUESTIONNAIRE

Name :

Age :

Gender : Male Female

Education:B.com BBA BSC BA

Family : Nuclear family Joint family

Area of residence: Rural area Urban area

1. Do you have savings?

Yes No

2. If yes, How much amount you save per month?

 less than 500
 500 - 1000
 1000 - 1500
 More than 1500

NETHAJI COLLEGE 57
 3. In which way you make savings?
 Bank deposit
 Post office savings
 Chit funds
 Others

4. what is your purpose of savings?

 As a habit
 For higher studies
 For future shopping
 Others (specify )

5. How long have you been saving Money for ?

 Less than 1 year
 1-3 year
 3-5 year
 More than 5 year

6. why do you open a bank account?

 Parents advised me
 Advise from school or college
 To keep my money safe
 To earn interest on money

NETHAJI COLLEGE 58
 7. How often do you withdraw in cash from your bank account?

 About once a week

 Once or twice a month
 Less than once a month

8. What is your source of income?

 Pocket money
 Scholarship or Grant
 Job (part time or weekend )

9. How much money will you spend per month?

 Less than 500

 500-1000
 M1000-2000
 More than 2000

10.what is your Spending and savings status?

 Spending greater than savings

 Spending equal to savings
 Spending less than savings

NETHAJI COLLEGE 59
 11.Where did you prefer to shopping?

 Mall
 Online
 Retail store

12.How many times shopping in a month?

 1
 2
 3
 More than 3

13. Are you used your savings for online mobile recharge?

 Yes
 No

14. How much money spend for mobile recharge in a month?

 Less than 100

 100-200

NETHAJI COLLEGE 60
  200-400
 More than 400

15. Are you use your savings for educational purposes?

Yes No

16. Are you used your savings for special events Like festival, celebration
and party?

Yes No

17. Do you spend your savings for Luxurious purpose (mobile, Ornaments ,
vehicles ,accessories)

Yes No

18. Do you share savings with your parents?

Yes No

19. Do you donate a portion of saving for charitable purpose?

Yes No

24. Please rank the following according to your spending

Entertainment
Fast food
Shopping

NETHAJI COLLEGE 61
 Transportation or petrol

NETHAJI COLLEGE 62